Jiffy Lube Ground Lease,
Trussville, AL Investment Summary
| Price | $1,442,105 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot FILE |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2022 |
| Building Size | 3,040 SF |
| Lot Size | 0.6 Acres (26,000 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
15-YEAR ABSOLUTE NNN CORPORATE GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» 15-year absolute NNN corporate ground lease with no landlord responsibilities
» 10% rental increases every five (5) years in initial term and option periods, providing a hedge against inflation
» Jiffy Lube has over 2,000 locations nationwide and serves more than 20 million customers per year
» New 2022 construction featuring Jiffy Lube’s latest prototype
STRATEGIC LOCATION IN DENSE RETAIL CORRIDOR
» Located near the intersection of North Chalkville Road and Interstate 59 (combined 81,870 AADT)
» Surrounded by a strong mix of local and national retailers, including Walmart
Supercenter, Target, The Home Depot, Best Buy, T.J. Maxx, Academy Sports + Outdoors, and many more
» Proximity to major Trussville community hubs and recreational areas, including Grayson Valley Country Club, Birmingham Shuttlesworth International Airport (over three million annual travelers), and Birmingham Race Course Casino (301 gambling machines)
» Located 15 miles from Downtown Birmingham, the second-most populous city in Alabama (200,733 population)
CENTRAL LOCATION WITH STRONG CUSTOMER BASE
» Near several single family housing developments and townhouse/apartment complexes
» 78,196 residents live within a five-mile radius
» Average household income of $108,325 within one mile of the property
» Projected average annual household income increase of 15 percent within one mile of the site over the next five years
Property Description
SOLD
This Jiffy Lube is located near the intersection of North Chalkville Road and Interstate 59 (combined 81,870 AADT). The property benefits from its prime setting in a dense retail corridor near major community hubs. The site is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Target, The Home Depot, Best Buy, T.J. Maxx, Academy Sports + Outdoors, and many more. The location is near major Trussville community hubs and recreational areas, including Grayson Valley Country Club, Birmingham Shuttlesworth International Airport (over three million annual travelers), and Birmingham Race Course Casino (301 gambling machines). The property conveniently serves as a gateway to Downtown Birmingham, the second-most populous city in Alabama (200,733 population).
The property is centrally located in Trussville near several single-family housing developments and townhouse/apartment complexes, providing a consistent customer base. 78,196 residents live within a five-mile radius, with an average annual household income of $108,325 within one mile of the property. The property is poised for significant growth, with a projected average annual household income increase of 15 percent within one mile of the site over the next five years.
